AstraZeneca ADR Programme


AstraZeneca equity securities


1. American Depositary Receipt.

2. The number of ADRs in issue varies with conversion into and out of the ordinary shares.

3. The number of ordinary shares, as of 31 Dec 2017, outstanding in UK or Swedish form can vary daily as they are fungible.



What are ADRs?

ADRs are dollar-denominated equity instruments issued in the US markets through a depository bank. They represent ownership of certain equity securities (the 'underlying shares') that are issued and trade in a company's home market(s). Each ADR represents a certain number of underlying ordinary shares, but trading independently of them. 


Benefits of ADRs to investors

ADRs are a convenient and cost-effective way to buy shares in international companies.

  • Stocks are quoted in US dollars
  • Dividends are paid in US dollars
  • ADRs trade during normal US trading hours
  • They settle and clear according to US standards
  • No need for custody arrangements outside of US
  • Facilitates price comparisons between securities

Overview of AstraZeneca’s ADR programme

AstraZeneca has a level 2 ADR programme which is listed on NYSE under the symbol AZN. The ADR ratio is 1:2, meaning each ordinary share is represented by 2 ADRs. The programme was established in 1999 when Astra and Zeneca merged. Deutsche Bank is depositary bank for the programme.



H1 2019 XBRL package

AstraZeneca’s financial information for the six months ending 30 June 2019 in XML format in line with requirements of the US Securities and Exchange Commission (SEC).


Form 20-F XBRL package 2018

AstraZeneca’s Form 20-F information in XML format in line with requirements of the US Securities and Exchange Commission (SEC).


H1 2018 XBRL package

AstraZeneca’s financial information for the six months ending 30 June 2018 in XML format in line with requirements of the US Securities and Exchange Commission (SEC).


Form 20-F XBRL package 2017

AstraZeneca’s Form 20-F information in XML format in line with requirements of the US Securities and Exchange Commission (SEC).



The ADR market

There are currently over 3,000 ADR programmes of which nearly 1,600 are sponsored. Of these, over 250 are listed on the New York Stock Exchange alongside AstraZeneca including some of the largest companies from Europe, Latin America and Asia Pacific. 


Who buys ADRs?

ADRs are bought by both institutional and retail investors. Over $800 billion of ADRs are currently held by institutional holders.


What is the role of the depositary bank?

As depositary bank for AstraZeneca, Deutsche Bank undertakes a number of functions including: Issuing and cancelling ADRs; serving as registrar and transfer agent for the ADRs; acting as paying agent, processing dividend payments or other entitlements for the ADR holders; processing corporate actions; and co-ordinating the proxy process for ADR holders.


How are AstraZeneca’s ADRs bought and sold?

ADRs can be bought and sold on the NYSE like any other security. If there is insufficient supply and/or depending on the premium/discount between the price of the ordinary shares and ADRs, ADRs can be created by Deutsche Bank upon receipt of ordinary shares (as shown in the diagram). AstraZeneca’s ADRs also trade in cross-books which match ordinary shareholders looking to create ADRs with ADRs holders looking to cancel and receive ordinary shares - and vice versa. As at 31 December 2019, 510 million ADRs were outstanding with an average of 4 million ADRs traded each day.


How are ADRs issued and cancelled?



(1) Investor contacts broker and requests purchase of company’s ADR.  If no ADRs are available, the issuance process begins.

(2) Broker contacts local broker in home market and

(3) the local broker purchases ordinary shares in the home market.

(4) Ordinary shares are deposited with a local custodian and

(5) the custodian instructs the depositary to issue ADRs which represent the shares received.

(6) The depositary issues the ADRs and delivers them in physical form or book form through DTC, Euroclear or Clearstream as applicable.

(7) The broker delivers the DRs to the investor or credits the investor’s account.


For more information about issuing AstraZeneca ADRs please contact Deutsche Bank:


New York: +1 212 250 9100  

London: +44 20 7547 6500

Email: adr@db.com

Investor enquiries

Main Contacts

Thomas Kudsk Larsen

Henry Wheeler

Oncology

Josie Afolabi

BioPharmaceuticals (Respiratory)

Craig Marks

Finance, fixed income

Christer Gruvris

BioPharmaceuticals (CV, Metabolism)

Tom Waldron

Other medicines

Jennifer Kretzmann

Corporate access, retail investors

Nick Stone

BioPharmaceuticals (Renal), ESG

US general enquiries